What is LEI code and how it is issued

The Legal Entity Identifier (LEI) is a 20 digit alphabetical code used while reporting transactions, allowing the clear and unique identification of legal Entities participating in the financial markets.

It is issued by certified Local Operating Units (LOUs) according to ISO17442 standard. The supervising authority, Legal Entity Identifier Regulatory Oversight Committee (LEIROC - www.leiroc.org), which has been established according to the recommendations of the Financial Stability Board, coordinates and supervises the issuance of LEI codes. In order for any organization to be certified as a LOU, a recommendation by a LEIROC member and the adoption of LEIROC's specific principles and technical commendations are required. The LEI issuance is considered to be a transitional stage until the establishment of the Global Legal Entity Identifier System (GLEIS). The current existing system LOU/LEI, is considered preliminary and referred as pre-LOU/pre-LEI.

LEI data are public. The certified LOU is required to be able to search for the relevant code from every concerned candidate according to various criteria. Additionally, concerned Legal Entities should access the public database www.p-lei.org, which gathers data by all the pre-LOU and disseminates them free of charge, in order to certify that they do not already hold a LEI code before proceeding with a LEI issuance request.

Who and when should obtain a LEI code

Up to now, the only usage provision of LEI is for Trade Reporting, as required by EMIR. Entities obligated under EMIR to report transactions should obtain a LEI code until 12/02/2014.

Description of ΑΧΙAlei service for issuing LEI codes

ATHEX Group offers legal entities (members and customers) a service allowing them to obtain a LEI code following a registration process. The service is provided by Hellenic Central Securities Depository S.A (ATHEXCSD), which is a part of ATHEX Group, in cooperation with LSE/Unavista. The issuance of LEI codes is performed via the Unavista platform.

The service is offered to members/operators of the ATHEX Group on a voluntary basis. Legal entities could apply directly at any certified LOU organization.

With the ΑΧΙΑlei service, ATHEXCSD undertakes  the following:

  • Receive the application of the legal entity.
  • Receive the required by LSE/Unavista documents.
  • Collect the fees specified by LSE/Unavista from the applicant.
  • Upload all necessary information into the Unavista platform on behalf of the applicant, following the issuance of the LEI code.
  • Notify the applicant about the issued LEI code.

LSE/Unavista:

  • Gathers the applications and accompanying documents from ATHEXCSD.
  • Verifies the data uploaded in the platform against the submitted documentation. Moreover, it checks whether a LEI code has already been issued by another LOU for the same legal entity.
  • Issues the LEI code within 5 days.

Procedure to issue the LEI code through the ΑXΙΑlei service

To use the ΑXΙΑlei service, a legal entity is required to:

1. Send to axialei@athexgroup.gr  the following:

  • Application ΑΙΤ51Ε «Application for the Issuance of Legal Entity Identifier", properly filled-in (submitted in DOC and PDF or JPG format for the scanned copy of the original -signed and sealed- application)
  • The following accompanied documents (in PDF or JPG format)
    • Copy of the Official Government Gazette with respect to the representation of the legal entity or a certified copy of the Board of Director's relevant record.
    • Certificate of the legal entity' record in the General Electronic Commercial Registry..

2. Fee payment for the LEI issuance (according to the below instructions).

3. Within 2 days from the submission of the above documents, the original documents should be mailed by post to:

HELLENIC CENTRAL SECURITY DEPOSITORY S.A. (ATHEXCSD)
ATHINON AVE. 110, 10442 Athens, Greece
Attn: Investor Services Desk - ΑΧΙΑlei service

AXIAlei Fees and payment instructions

  • LEI issuance request:

o Per LEI :

  • €138,00 (plus VAT) or €171,12 (incl. VAT 24%).

o Paid by the requesting Legal Entity.

o Invoiced by ATHEXCSD and collected on the submission of request.

  • Annual LEI subscription

o Per LEI :

  • €84,00 (plus VAT) or €104,16 (incl. VAT 24%).

o Paid by the requesting Legal Entity.

o Invoiced by ATHEXCSD and collected annually on the month of LEI code issuance.

Note: The service is subject to VAT 24% for domestic legal entities only. Legal entities registered in VAT Exchange Information System as EU Member States residents pay the AXIAlei fees without VAT.

Fees should be deposited into the following ATHEXCSD's Bank Account:

IBAN: GR38 0140 1010 1010 0200 2063 823
Bank: ALPHA BANK
BIC: CRBAGRAAXXX
Reason: LEI ? Legal Entity Name

For more information, please contact the Investor Services Desk.
 

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